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As we mentioned, Obama says he is confident U.S. lawmakers will vote to reform the nation's financial system. He expects Congress to pass the financial reform legislation, despite the loss of his fellow Democrat, Senator Robert Byrd, who died Monday at the age of 92.
After meeting with Federal Reserve Bank chairman Ben Bernanke, the president told reporters he believes lawmakers from both parties see the need for change on Wall Street. Meanwhile, U.S. Democrats on Tuesday stripped out a controversial 17.9 billion U.S. dollar tax from their landmark financial reform bill in a scramble to win the votes needed to pass it through Congress. The goal had been to get the bill to President Obama's desk by July 4th, but that timetable could slip by several weeks.